ExxonMobil aims to dispose of MPNU to hit its 2025 divestment targets
Seplat denies ExxonMobil deal under threat
Acquisition of US major’s assets still on track, says Nigerian independent
Nigerian independent Seplat has rejected reports suggesting state-owned NNPC has pre-empted its acquisition of ExxonMobil’s shallow-water assets in Nigeria. Seplat issued a statement saying it had “become aware of newspaper and social media reports that the NNPC has exercised a right of pre-emption" on its deal to acquire the US major’s Mobil Producing Nigeria Unlimited (MPNU) subsidiary. This pre-emption reportedly arose from the existing joint operating agreement (JOA) between NNPC and MPNU, but Seplat “wishes to clarify” that its previously announced SPA with ExxonMobil relates to the acquisition of the share capital of MPNU’s shareholders—comprising Mobil Development Nigeria and Mobil Ex
Also in this section
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
3 March 2026
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
2 March 2026
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
